Matador Resources Company (MTDR) Tuesday announced a cash tender offer to purchase approximately $699.2 million, 5.875% senior notes due 2026.
The company plans to use part of the proceeds from its concurrent private placement of $800 million of senior notes due 2032 to fund this.
As per the terms of the offer, the holders of the Notes will receive total cash consideration of $1,000.75 per $1,000 principal amount of 2026 Notes, plus an amount equal to any accrued and unpaid interest up to, but not including, the settlement date, which is expected to be April 2, 2024.
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